India Microfinance

Spandana Microfinance Interview by CNBC-TV18

In an interview with CNBC-TV18, Padmaja Reddy, MD, Spandana Spoorthy Microfinance spoke on what the company proposes to do with the proceeds of the IPO.

Below is a verbatim transcript.

Q: What do you plan to do with this Rs 1500 crore that you are proposing to raise ?

A: We need Rs 1500 crore equity to meet our outreach. Right now we have 15 lakh borrowers in 12 states. We are looking at reaching out about 1.5 crore households in the next three years. This requires us to raise about Rs 40,000 crore loan fund and Rs 1500 crore equity.

We are evaluating various options of raising this money and we know IPO is one of the options. But we are ready to really make addition in terms of when we want to raise this money, how we want to raise the money.